Can you make money dropshipping, has been the question in the mind of many entrepreneurs who really want to make it big on online platforms through sales, In this article, I have covered the pros and cons, therefore continue reading if you want to start your own 7-digit dropshipping business and don't know how to get started?
Don't worry, I have got you covered but before then let’s understand what dropshipping is all about and also how to promote your local business
What is dropshipping
Dropshipping is a retail e-commerce model that allows retailers to sell products online without maintaining physical inventory. In this model, the retailer sells the product to the consumers and then transfers the sales order to a third party. This third-party vendor ships the orders on behalf of the retailer directly to the customers. One good thing about dropshipping sellers is that they do not have to invest in inventory, warehouses, storage facilities, or go through the fulfillment process.
I've spent months researching, optimizing, and promoting high-demand and tested dropshipping products and learning how to succeed in dropshipping without too much stress and still make a ton of money. If you're ready, I'm ready to share my research with you, and if done right you'll join me and others who make thousands of dollars a month dropshipping. I know that by the time you finish reading this article and take action you will no longer ask can you make money dropshipping because I must have answered all the itching questions.
This is a disclaimer that I made or any of the proof in this article made thousands of dollars a month. While dropshipping isn't a guaranteed factor for you, however, there are opportunities to get precise guidance from my research where your store can make $5,000 a month.
How much money can I make dropshipping
Well, there is no way one can give you a direct answer on how much you can make in dropshipping business because there are lots of factors that can determine that
Therefore, instead of guessing, let's look at the real-world experiences of people who have already reached important milestones in their business to avoid making misleading assumptions, false promises, or information. Everyone's experience is very important and there are many small tips and tricks you can learn from others.
Potential money from dropshipping
First, let's talk about the potential income of starting a dropshipping business. As mentioned earlier, you should understand that there are many factors that can affect your dropshipping journey, which include:
Factors that affect dropshipping business
- Your location
- Chosen niche
For this very reason, I suggest you pay attention and follow the people who are already doing it for many people especially if you are new to dropshipping and really want to earn a decent amount of money dropshipping
How long will my new dropshipping store make me money?
The answer is very simple. You don't have to wait at all. Newly launched stores do not yet have established brands. So, the best strategy is to try different marketing tools and test them all to the best of your ability.
Some people took a week to make their first sale. As experienced internet marketers with a solid background in building WordPress sites, they did the following which you can as well do:
Strategies to succeed doing dropshipping
• You need to Choose your preferred method of promotion (AdWords and social media marketing);
• Social Rabbit Plugin can help you to automatically manage your marketing on social networks;
• Using any of these social media platforms like Instagram, Facebook, Twitter pages, and Social Rabbit are linked
• Add external plugins that, in my personal experience, have proven to be useful for site administration depending on your niche.
• Regularly edit the product descriptions of your store for better ranking on search engine marketing.
• Lunch an advert to promote your store to a wider audience.
• Performed several sitemap updates like making sure that your site is verified. You can learn how to do that here
• Adding a discount code is very important.
• Put your site SEO in check always
For others, it took them more than two weeks for the first purchase to arrive, but in most cases, the store owner did not market for a week but was busy doing research on his chosen niche. Then they start a Bing ad campaign, launched adword and Facebook, and made their first dropshipping revenue within a few weeks.
Benefit of advertisement
Your store may be new in operation but starting advertisements through a Facebook ad, fan page, and Instagram ad is enough to generate the first sale ever for you within a short time if done well.
Long run sales
It is also very important you work on SEO in order to secure good business performance, in long run, I repeat in the long run because SEO doesn’t take effect immediately but once you run your ad campaign with SEO you will be surprised by the sales you will start making within the shortest period of time of starting your dropshipping business
Benefits of SEO
If you want thousands of people to come and order from your drop-shipping store, your website needs to be search engine-optimized so that search engines like Google, Bing can easily find your keyword and show it to Internet users who are looking for something that you sell
The higher the location of your online store, the faster your users or potential customers will be able to see your online store on search engine results pages. It's no longer news that it's hard for users to leave the first three URLs when they search for something in a search engine. So dropshipping store owners have very clear goals. The goal is to achieve the best possible results with your online store to increase your store's ranking in your chosen niche with the help of SEO. You should optimize your keywords so that users can quickly find them in search results.
How much can dropshippers make with ready-made businesses?
First of all, if you decide to buy a ready-made store and do not want to build it from scratch, take a closer look at the store's statistics. Check the website rating to see if this store's potential revenue matches your expectations. Given current profits, traffic, and social media presence, we can roughly estimate the profitability of any website or store in the medium term.
As the new owner of the store, you must understand that you are now responsible for running the store! Even if you buy a business with consistent revenue and traffic, don't expect it to magically last. It's important to keep promoting your store, connect with current and potential customers, and update your products from time to time. In this way, you can keep your store relevant and interesting to your target audience and avoid a previous level of decline in revenue.
How to get already made dropshipping store
You may be wondering where to find a store like this. We have good news because you can get a business like this that is already up and running and optimized to make life easier and keep your profits stable here to join others who are already harvesting the potential!
If you visit the pages, you can see that each is already generating a stable level of revenue as shown in the image above. The reason is simple. Each store operates in a high-demand niche market and is promoted by an experienced team of digital marketers. So the returns are very impressive!
With us, you can become the owner of an equally successful online store! All stores on this page reserve the right to copy. You can get exact copies of the best drop-off sites with the same structure, design, assortment, etc., and buy a marketing package (exactly the same set of promotional materials). You have an effective audience setup to generate this kind of revenue for your store.
Factors that can influence your dropshipping store
Knowing the factors that can influence your dropshipping earnings business is very important because that will save you a lot of time and unnecessary expenses.
A good niche requires product availability, buyers’ interest, and promotional potential. The more demanded and product-rich the niche is, the sooner the first sale will happen.
Quite often, people show interest in the product offers, but, due to the payment system’s inconvenience/unreliability, they will abandon their cart before completing the order.
Reducing the number of abandoned carts in your store is very important for every online store owner and after reading this article your abandoned cart rate will tremendously decline
The intensity of marketing efforts
Well, it is clear. It doesn't matter whether you're a marketing expert or never sold. You've built several online stores or you don't know what a domain name is. The important thing is to want. Develop your business, it doesn't matter. Even if you don't know much about the market or industry experience, you can always start by understanding your target audience and trying out simple, free ways to increase traffic to your store. It costs nothing, but it teaches a lot and learning is essential to business success.
Step up your marketing with paid advert
When your marketing budget starts to allow this, try paid advertising on Facebook, Instagram and Google. These are the most popular advertising platforms among dropshipping and other entrepreneurs and are essential to business growth. A variety of advertising tools can help you attract potential customers much faster. However, additional advertising costs should be considered when using it.
When shipping, you need to consider how shipping costs will affect the final price of your product and your bottom line. We cover the aspect of shipping costs
As an eCommerce owner, you should not forget about other business costs. For example, buying software or apps, collaborating with influencers, taxes, calling, texting, etc. These are the most common factors to consider. And you know you have everything you need to evaluate your potential benefits.
How much experience do I need?
I don’t think experience should be your excuse even though it’s an added advantage when you have knowledge of digital marketing and a background in IT in general because lately, most people who decided to go into dropshipping never had any experience in the field. While on the other hand, they are able to run their store successfully with the help of commitment and research in their chosen niche and make it profitable.
Pros and Cons in dropshipping
1. Low-profit margins.
Convenience is everything, which is why dropshipping is always on the top of mind for most eCommerce store owners. But there are some things you should consider before signing off on a deal which is the profit margin in dropshipping. The profit margin is low because you are not spending that much as we all know that for you to earn more you must spend more in any business.
2. High Competition.
Many entrepreneurs get excited about dropshipping because it requires a low investment, but unfortunately, the result is often that you'll be fighting for customers with a bunch of other sellers.
3. Brand is hardly maintained
Dropshipping businesses face the same problem – they can’t compete with big suppliers on prices. Competitors can sell their exact products, including the same label and packaging, and offer a lower price.
4. The supply chain can’t be controlled.
Because dropshipping companies handle customer care and return you are at the mercy of the suppliers when customers complain about product quality, fulfillment speed, or return policies, unlike regular eCommerce businesses where you can address the problems yourself immediately.
1. Little or no Market research.
It is very important you do enough research about products you want to sell as a drop shipper on your site because if your products are not in high demand and a reasonable amount of profit you might end up frustrated but with dropshipping you need not worry much about the market research because most of the work has done for you when you ask them the right question about the trending
2. Serves as backup
Dropshipping is excellent insurance against extreme circumstances because it allows you to fulfill pre-made orders by dropshipping the products from elsewhere when you ran into a shortage or things like a fire disaster in your warehouse
3. Strategic shipping systems.
One unfortunate consequence of expanding your business is shipping complications. The farther out you get from your warehouse or fulfillment centers, the more shipping costs and fees you’ll incur.
4. High-maintenance products.
High-maintenance products cost more due to storage and shipping fees but If you plan to sell them, dropshipping can save you all this stress and still make a good profit
Getting started with dropshipping can be a profitable business strategy, but it’s one where success is not assured. It’s a business strategy with a low barrier to entry because you won’t need to spend a lot of money on purchasing and keeping inventory; you don’t need much more than a computer and an internet connection to get started. It’s not particularly risky either and cjdropshipping will attest to that
Life goes by very rapidly and numerous events might affect the performance of your drop-shipping business, either directly or indirectly. As you can see, each specific dropshipping store owner has a completely different level of income. However, there are remarkable similarities. All owners are not bound by any specific conditions or requirements. They place no restrictions on the number of sales, price increases, total sales, etc. It doesn't matter how much you earn. Yours alone. This is what inspires you to keep growing your store and aim for the best.
Thank you for reading, we would be glad if you share your experience with us in the comment section… SHALOM